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News & Policy

Federal Pension Agency to Meet with Lima-Area Workers and Retirees in Harvard Retirement Plan and Spencerville Division Hourly Rate Retirement Plan

August 13, 2003

Pension Benefit Guaranty Corporation (PBGC) representatives will meet with current and former workers and retirees covered by the Harvard Retirement Plan and Spencerville Division Hourly Rate Retirement Plan to explain the federal pension program and answer questions.

PBGC took over the plans from Harvard Industries, Inc. on October 15, 2002 and continued uninterrupted payment of benefits to retirees. The plans cover about 6,400 people and are underfunded by approximately $59.3 million. PBGC uses its assets to make up the shortfall and guarantees to pay benefits as promised by the plan up to the maximum allowed by law. The Harvard Retirement Plan includes workers and retirees of the Trim Trends division of Harvard Industries.

The meetings are being held at:

Lima, OH

Meeting Dates:


Veteran's Memorial Civic and
Convention Center of Lima/Allen County
7 Town Square
Lima, OH 45801

August 20, 2003

August 21, 2003

6:30 p.m.-7:30 p.m

10 a.m.-11 a.m.

At the meetings PBGC will copy and certify any proof documents (birth and death certificates, marriage licenses, etc.) that participants bring to the meetings. Anyone with questions should contact PBGC's Customer Service Center at 1-800-400-7242. For hearing-impaired TTY/TDD users, call the federal relay service toll-free at 1-800-877-8839 and ask to be connected to 800-400-7242.

PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974. It currently guarantees payment of basic pension benefits earned by 44 million American workers and retirees participating in about 32,500 private-sector defined benefit pension plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and investment returns.

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PBGC No. 03-50